Retail Automation Market 2020: Analysis, Size, Trend and Forecast 2023

   2020-10-08       44        Business
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Market Research Future published a research report on “Retail Automation Market Research Report -Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Overview

The global retail automation market has been proliferating alongside the retail industry, due to factors such as the increasing demand for cost-efficient fast service, investment in automated retail by chief retail market players, rising adoption of retail automation components in an attempt to optimize operations. According to Market Research Future (MRFR), the global Retail Automation Market is estimated to grow up to USD 18 billion at 11 CAGR% in the forecast period of 2017 to 2023.

 The growing implementation of digital capabilities is predicted to increase the use of automation, thereby driving the market. The industries in the retail sector are investing in technologies to understand consumer behavior to shape their strategies to withstand in the market. Customers are demanding quality of product and service due to which the incorporation of automation in the retail industry is becoming an essential part. Furthermore, market players are encouraging customers to go cashless, which is fueling the growth of the retail sector thereby ascending the retail automation market.

Many global brands and retailers are looking forward to building up brand awareness and expansion of their business. The retail automation demand is proliferating as the technological advancements in the retail sector are persuading retail touch points and retail tech. It offers improved service to the customer at a little cost. These services have changed the buying experience. Various factors drive the market growth such as demand of customers to improve the service quality, appreciation for automation in retail and others.

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Market Research Analysis:

Region-specific analysis of the global retail automation market is founded on mainly four regions namely, Asia Pacific (APAC), North America, Europe and Rest of the World (RoW). This region-specific peek into the market allows a better reading of growth pockets.

North America has the lead in the global market and its reliance on the high-level technologies and better investment scopes are giving it the edge over the others. The market is witnessing an easy permeation of RFID systems to better the product tracking capacities and the process is less expensive. Such advantages have been adopted by top players quickly. The market is also witnessing blessings of the results provided by the research and development sector.

In Europe, similar reasons are expected to drive the regional retail automation market. The market has several players who are actually getting involved in such a prolific growth of the global market.

In the APAC region, this growth depends mostly on the technological integration in retail sectors of China, Japan and India. Emerging economies like China and India are quite big and can initiate expansion plans of global players by offering greater profit margins. The sector is expecting the fastest CAGR during the forecast period.

Key Players:

The prominent players in the global retail automation market are – Fujitsu Limited (Japan), Toshiba Global Commerce Solutions Inc. (US), Honeywell Scanning and Mobility (US), Posiflex Technology, Inc. (Taiwan), E&K Automation GmbH (Germany), First Data Corporation (US), Kuka AG (Germany), Wincor Nixdorf AG (Germany), Zebra Technologies Corporation (US), NCR Corporation (US), and Kiosk & Display LLC (US) among others.

Global Retail automation Market Segmentation

MRFR"

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.



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